TDK has long been a leader in providing electronic materials and components essential to modern wireless charging systems. In particular, TDK is known as the world’s leading producer of electronic components based on advanced ferrites, a vital material for harnessing magnetic fields, and has a large and rapidly growing business as a Tier 1 and Tier 2 supplier in the automotive industry. Under this IP license agreement, TDK will be able to offer wireless charging systems to carmakers for future rechargeable hybrid electric and battery electric vehicles. In addition, TDK is licensed to offer compatible automotive wireless charging sources for home, commercial, and public use.

WiTricity’s technology delivers electric power safely over distance and eliminates the need for charging cables required by EVs and PHEVs currently on the market. Carmakers around the world have identified wireless charging as a key differentiator in the marketplace because of the convenience it offers vehicle owners. International standards for wireless charging systems are being developed by the Society of Automotive Engineers (SAE), the International Electrotechnical Commission (IEC), and the International Organization for Standardization (ISO), with the goal of ensuring interoperability of wireless charging systems and EVs/PHEVs on a global basis.

“There is widespread recognition that wireless charging will be central to the growth of the electric vehicle market,” said WiTricity CEO Alex Gruzen. “We are proud to help advance the market for wireless charging with such an accomplished partner as TDK.”

About WiTricity

WiTricity Corporation is enabling a wirelessly powered world by providing the foundational technology necessary for organizations to bring wireless power solutions to market faster. The company was founded in 2007 to commercialize an exciting new technology called “WiTricity,” which enables wireless power over distance using magnetic resonance. Through deep domain expertise, a strong IP portfolio and an extensive reference design library, WiTricity Corporation provides end-to-end technology transfer for companies who want to incorporate WiTricity in their products. With a growing list of global licensees in industries including consumer electronics, automotive, medical devices and defense, the company has emerged as the leader in wireless power using magnetic resonance. For more information, visit www.witricity.com, or follow WiTricity on Facebook, Twitter, LinkedIn, Google+ and YouTube.